​OOTW: I DO THINK WE'RE GOING TO SEE SOMETHING HAPPEN WITH THE CBI THAT WILL FORCE THE AUCTIONS TO CHANGE OR STOPOOTW: BUT REMEMBER THE IMF REPORT SAID THAT IRAQ IS STILL MAINTAINING THEIR PEG TO THE USDluckyinkentucky: with the auctions being a great source of revenue for the cbi, I see this being a struggleOOTW: BUT THIS TOO IS A FLUID SITUATION AS THE COUNTRY MOVES TO ADDRESS THE CORRUPTION IN THE AUCTIONS ~~~

OOTW: YES AND BUTI AND I ANALYZED A GREAT DEAL OF CBI LAW LAST WEEKEND

OOTW: AND THE CBI CAN DO WHATEVER THEY WANT WITH THE AUCTIONS, AS THE LAW NOW STANDS...THEY VALIDATE THE ALLOWANCE OF THE STREET MARKET PRICES OR THEIR SPREAD PRICE IS NEEDED IN ORDER FOR THEM TO BUY/PURCHASE FOREIGN CURRENCY/USD

OOTW: THE VIDEO PRESS RELEASE I POSTED LAST NIGHT STATES THAT IRAQ WANTS TO MOVE AWAY FROM THE FOREIGN CURRENCY AUCTIONS

OOTW: BUT THIS HAS BEEN PREVENTED BY THE ENTRENCHED CORRUPTION

OOTW: IT'S FUNNY TO ME THAT THIS WAS SAID BY AN MP WHO IS ALSO ON THE LIST PUT OUT MONTHS AGO OF SHIA'S IN THE GOVT PERFORMING CORRUPTION WHO ARE TO BE PROSECUTED

OOTW: THEY DO TURNABOUTS REAL FAST LIKE

OOTW: IN THE PRESS

luckyinkentucky: does parliament have the power to overide cbi policy?

OOTW: LET ME QUOTE SALEH
OOTW: BEAR WITH ME BECAUSE I HAVE TO POST A LOT OF THE ARTICLE TO VALIDATE THIS

OOTW: He said the appearance of Mohammed Saleh in an interview with the (long-Presse), said that "Article 26 in the central bank law stipulates prevent the central bank from lending to the government a harsh material terms of developing in response to the former regime's policies,

but in light of what, in Iraq today and the need possible financial liquidity adjusted to allow the lending of money is part of the government treasury. "

luckyinkentucky: thanks a lot for the education

OOTW: Saleh added that "there are a lot of countries worked on this thing and there are about 50 similar material to the material (26) in the central bank law to the state to help in the financial tragic situations," adding that "lending is not at any time, but when the state is in dire need to financial liquidity. "

Economic adviser said that "lending must be not from the current year's budget, but from a previous year's budget and possible borrowing is 10% of the fiscal deficit in the general budget of the country, or 15%, according to the agreement with the government or be a lending rate of 10% of the total Government spending over a year and must be paid during the year can also be foreign currency lending if the Iraqi government external obligations. "

OOTW: Saleh stressed that "this step does not prevent the independence of the central bank because it will be in a limited way and the content of the law and this is possible to make the central bank relative independence of the law," pointing out that "the Central Bank reserves come from the government, it is not unreasonable when you need government and the central bank abandoned, especially and that Iraq is going through difficult circumstances. "

It is said that a number of legal and House of Representatives demanded that the Iraqi Central Bank Amendment Act in order to assist the Iraqi state in its current financial crisis Adin, he can amend the law because of the paragraphs not classified in the Iraqi constitution.

OOTW: PRIMARY ASPECT HERE

OOTW: "It is said that a number of legal and House of Representatives demanded that the Iraqi Central Bank Amendment Act in order to assist the Iraqi state in its current financial crisis Adin, he can amend the law because of the paragraphs not classified in the Iraqi constitution."

OOTW: NOW REMEMBER THAT THERE ARE TWO BANKING LAWS

OOTW: ONE ISSUED BY THE GOVT
OOTW: AND ONE BY THE CBI

OOTW: ABOVE, YOU CAN SEE THAT SALEH IS TALKING ABOUT BORROWING FROM THE CBI TO BRIDGE DEFICITS

OOTW: THE KEY ASPECT HERE IS THAT AS THE LAW NOW STANDS, THE GOI CANNOT INTERFERE

OOTW: BUT SALEH IS SAYING THAT THE CONSTITUTION DOES NOT PROTECT CBI LAW, LAW , LAW

OOTW: SORRY HAVE TO RESTATE THAT DUE TO THE LACKING IN THE TEXT APPLICATIONS HERE IN CHAT

OOTW: IT IS MY OPINION THAT THERE IS A CHANCE, BECAUSE OF ALL THE PRESS RELEASES WHICH HAVE COME OUT ADDRESSING THIS,

OOTW: THAT SALEH WILL DO WHAT NEEDS TO BE DONE TO ADDRESS THE CORRUPTION IN THE AUCTIONS

OOTW: IF HE HAS TO AMEND THE BANKING LAW WHICH THE GOVT HAS AUTHORED TO OVERRIDE THIS SITUATION, I BELIEVE HE'LL DO IT

OOTW: AS I BROUGHT INTO CHAT TWO DAYS AGO

OOTW: THE GAZETTE HAS PUBLISHED A LAW MAKING SALEH THE OFFICIAL REP TO THE UN FOR IRAQ

luckyinkentucky: That would be great to see because it is hard to imagine reform while corruption is so rampant

OOTW: I WANT TO BELIEVE THAT ABADI, SALEH AND THE ECONOMIC COMMITTEE WANT WHAT'S BEST FOR THE PEOPLE, BUT ALSO HAVE TO BALANCE THE NEEDS OF THE ECONOMY SINCE OIL HAS DROPPED

OOTW: LUCKY, AGREED

OOTW: AND THAT'S WHAT ALL OF THESE PRESS RELEASES ARE CALLING OUT

OOTW: THE NEED TO ADDRESS CORRUPTION TO BENEFIT THE PEOPLE AND ABADI'S GOVT HAS MADE SO MANY AGREEMENTS WITH COUNTRIES FOR MONIES, THAT THEY DO HAVE TO BE SHOWN ACTING AGAINST CORRUPTION

OOTW: THEY GOVT IS ACTIVELY FINDING WAYS TO BOLSTER THE ECONOMY APART FROM OIL REVENUE

OOTW: AND THIS, LONG TERM, IS WHAT'S GOING TO SUPPORT THE CURRENCY

luckyinkentucky: how can they ever increase a market economy while the goi monopolizes most services

OOTW: MUCHO ACTIVITY GOING ON TO BOOST EXPORTS/IMPORTS

OOTW: THERE WAS A MOVE OVER A YEAR AGO TO MAKE GOVT INSTITUTIONS PUBLIC

OOTW: SO MANY OF THOSE HAVE BEEN AND ARE STILL BEING DIVERSIFIED

OOTW: REMEMBER THEY TOO ARE WORKING TO MAKE THE RAFIDAIN BANK PUBLIC

luckyinkentucky: I wasn't aware of that

OOTW: AND I BROUGHT THIS LAW FROM THE GAZETTE INTO CHAT TWO DAYS AGO

OOTW: YES, LUCKY, THIS ANNOUNCEMENT ABOUT MAKING GOVT COMPANIES PUBLIC WAS ANNOUNCED AS APPROVED BY THE COM OVER A YEAR AGO

OOTW: AND THERE IS EVIDENCE THEY ARE DOING THIS

OOTW: THE IRAQI INVESTMENT SITE (SPONSORED BY THE GOI) POSTS VALIDATION OF THIS

luckyinkentucky: that is good to hear

OOTW: AND SO DOES THE MOP
OOTW: ABOVE I POSTED AN ARTICLE OPENING UP PUBLIC INVESTMENT FOR THE PORT OF FAW
OOTW: THERE'S DIVERSIFICATION

OOTW: WE JUST NEED TO SEE A HARD HAMMER COME DOWN ON CORRUPTION NOW
luckyinkentucky: thank you for taking the time to educate

OOTW: THANK YOU, WHEN PEOPLE ASK QUESTIONS, IT HELPS ME TO IMPART WHAT LITTLE KNOWLEDGE I'VE GAINED IN MY YEARS IN THIS

OOTW: ALSO BECAUSE I LOOK AT THIS EVERY DAY, I DON'T READILY RECALL WHAT IS WAS LIKE TO HAVE QUESTIONS OTHERS MIGHT HAVE

luckyinkentucky: I don't read as much as I used to. I listen to the cbi and they are fairly consistent in their statements

OOTW: 5. The decision to establish a public company under the name (Rafidain Bank)

Doug_W: TY OO
OOTW: :)
Abraham: ‹@OOTW appreciate all your hard work. Let me say the relationship with the IMF is to help Iraq make a transition to a market economy. That in itself encompasses on many streams that lead to the one river if I may put it that way. I am confident that the IMF with the support of the World Bank and the United Nations will leave no stone unturned in the process. It will be time consuming but one day you will wake up and be amazed at the results.

OOTW: THANK YOU ABRAHAM

Abraham: Because Stagnant and polluted water is being addressed in creeks and streams that will filter into the main river of global transition. This transition is bigger than any one individual. It is the development of a model that will transform the Middle East. Man's agenda may be Iraq, God's plan is so much Bigger!

OOTW: :) THANK YOU

Abraham: Some will understand, some will not because as an apostolic individual God has blessed me to see into the Spiritual Realm and I say that with much humility.

Donnie: Barzani of the Kurdistan region declares bankruptcyDonnie: :w00t:
​Donnie: The President of the Kurdistan Regional Government Nechirvan Barzani, on Wednesday, for the bankruptcy of Kurdistan region of Iraq, stressing that there was no money in the region.Barzani said in remarks reported by "Rouado" and seen by / information /, that "in fact, there are no funds with the Kurdistan Regional Government, is there worse than to have the government money and distribute it?". Barzani said that "the biggest challenge to the Kurdistan region now is the financial issue."

Barzani pointed out that "all our attempts aimed to secure salaries, our priority is the fight against Daash and secure the salaries of the Peshmerga, then ministries and other institutions and the salaries of insurance." Finished / 25Donnie: almaalomah.info/2016/01/2...http://almaalomah.info/2016/01/27/economic/13022Donnie: Monthly budget deficit in Iraqi Kurdistan reaches $406 millionDonnie: HEWLÊR-Erbil, Kurdistan region ‘Iraq’,— Iraqi Kurdistan Region’s monthly budget deficit has reached 450 billion Iraqi dinars, or roughly $406 million, the region’s deputy prime minister said on Wednesday.Donnie: read more here: ekurd.net/kurdistan-month...http://ekurd.net/kurdistan-monthly-deficit-millions-2016-01-27Donnie: Saturday, January 23, 2016 - 02:00 CBI Says Let the Market Decide Currency RatesDonnie: The post-sanctions economy offers the promise of revitalizing the economy, said Valiollah Seif, governor of the Central Bank of Iran. Tapping into bank loans and the foreign exchange market are at the forefront of measures to lift the economy in the new era, he added, ILNA reported. “We should let the market decide the real rates and avoid interfering with market mechanisms or rate setting in the forex market,” he said calling for “genuine” foreign exchange rates.Donnie: financialtribune.com/arti...http://financialtribune.com/articles/economy-business-and-markets/34761/cbi-says-let-market-decide-currency-ratesDonnie: “We should let the market decide the real rates and avoid interfering with market mechanisms or rate setting in the forex market,” - I like this line of thinking.Donnie: That was a good article.